I thought the issue was they wanted search engines to be able to see the content, but not non paying viewers? Hence slightly shitty paywalls.

Steam is a prime example of this. Not privately run it would have been bloated to extinction years ago.

Shareholders are leechers to quality. Dividends are not enough, the underlying asset must grow no matter what.

When Gabe croaks it Steam is fucked. It will go public.